For the first half of 2020, SLM Solutions reports an increase in sales from 16.4 million euros to 31.2 million euros. However, at 13.7 million euros, incoming orders were noticeably below the value of 20.8 million euros from the same period of the previous year. The background is the restrictions caused by COVID-19 and the resulting global economic slowdown, reported SLM Solutions on Thursday. On an EBITDA basis, the Lübeck-based company was able to reduce its operating loss from EUR 18.9 million to EUR 6.0 million. In addition to the increase in sales, cost reductions also helped.
“The first half of 2020 was clearly burdened by the effects and uncertainties of the COVID-19 pandemic. Nevertheless, we made good progress with our turnaround measures at SLM Solutions in this challenging time. This applies in particular to the development process for our next generation of machines, which has progressed according to plan, ”says Meddah Hadjar, CEO of SLM Solutions. The new machine should be presented in November. This should “change SLM Solutions and the entire industry of metal-based additive manufacturing”, says Hadjar.
Business has been picking up again since the end of the first half of the year, according to the group headquarters in northern Germany. The trend has continued so far in the third quarter, says Dirk Ackermann, CFO of SLM Solutions. “For the remaining second half of 2020, we are assuming an increasing intensification of customer activities and a further revival of our business,” said the manager.
SLM Solutions had already presented a forecast for 2020 on Wednesday yesterday. The company expects sales to increase by 20 percent compared to the previous year, in which 49 million euros were converted. On an EBITDA basis, the loss is to be reduced: after 26 million euros last year, the Lübeck-based company is expecting a loss of between 13 million euros and 18 million euros this year. “This forecast is based on the assumption that there will be no significant deterioration in the COVID-19 situation with extensive lockdown measures in the main sales markets of SLM Solutions in the further course of 2020,” said the company.
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